Robert W. Baird Forecasts Strong Price Appreciation for RB Global (NYSE:RBA) Stock

RB Global (NYSE:RBA - Free Report) TSE: RBA had its price objective boosted by Robert W. Baird from $86.00 to $100.00 in a research note published on Monday,Benzinga reports. The firm currently has an outperform rating on the business services provider's stock.

Several other equities analysts also recently commented on RBA. Bank of America increased their target price on RB Global from $79.00 to $92.50 and gave the company a "neutral" rating in a research report on Monday, August 26th. BMO Capital Markets initiated coverage on shares of RB Global in a report on Thursday, September 5th. They issued an "outperform" rating and a $105.00 price objective for the company. Raymond James boosted their target price on shares of RB Global from $95.00 to $98.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada increased their price target on RB Global from $93.00 to $99.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, RB Global has an average rating of "Moderate Buy" and a consensus price target of $98.36.

RB Global Price Performance

Shares of NYSE RBA traded up $2.14 during midday trading on Monday, reaching $94.00. 959,866 shares of the company were exchanged, compared to its average volume of 1,018,548. The stock's 50-day moving average price is $83.66 and its 200-day moving average price is $79.77. The stock has a market cap of $17.33 billion, a P/E ratio of 51.05, a PEG ratio of 5.99 and a beta of 0.92. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. RB Global has a one year low of $58.85 and a one year high of $94.85.

RB Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.23%. RB Global's dividend payout ratio is currently 63.04%.

Insiders Place Their Bets

In other RB Global news, CRO James J. Jeter sold 2,920 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total value of $230,563.20. Following the transaction, the executive now directly owns 23,267 shares of the company's stock, valued at approximately $1,837,162.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RB Global news, CRO James J. Jeter sold 2,920 shares of RB Global stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $78.96, for a total transaction of $230,563.20. Following the transaction, the executive now directly owns 23,267 shares of the company's stock, valued at $1,837,162.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Jeffrey Watt sold 2,915 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $82.80, for a total transaction of $241,362.00. Following the transaction, the insider now directly owns 19,271 shares in the company, valued at $1,595,638.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,601 shares of company stock worth $3,720,043. Corporate insiders own 4.32% of the company's stock.

Institutional Trading of RB Global

Hedge funds have recently bought and sold shares of the business. Weil Company Inc. raised its position in RB Global by 1.2% in the third quarter. Weil Company Inc. now owns 11,330 shares of the business services provider's stock worth $912,000 after acquiring an additional 132 shares during the period. Advisor OS LLC lifted its holdings in RB Global by 1.9% during the second quarter. Advisor OS LLC now owns 8,352 shares of the business services provider's stock valued at $638,000 after purchasing an additional 156 shares during the last quarter. Blue Trust Inc. boosted its position in RB Global by 11.9% during the third quarter. Blue Trust Inc. now owns 1,478 shares of the business services provider's stock worth $113,000 after purchasing an additional 157 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of RB Global by 58.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider's stock worth $34,000 after purchasing an additional 165 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of RB Global by 33.5% in the second quarter. Nisa Investment Advisors LLC now owns 836 shares of the business services provider's stock valued at $64,000 after purchasing an additional 210 shares during the period. 95.37% of the stock is currently owned by institutional investors.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.